News Archive for April 21, 2014

Julia Roberts's Cool and Composed Life
The movie star takes a turn towards the small screen with this month's release of HBO's "The Normal Heart," a move that's in line with her down to earth approach to living.

Legal Costs Begin to Mount in Bridge Investigation
Some of the George Washington Bridge scandal's costs are coming into focus. New Jersey Gov. Chris Christie's re-election campaign, for example, has $264,000 of debt related to defending itself from subpoenas.

Activist Aims to Combine Health Giants
William Ackman and Valeant Pharmaceuticals International are teaming up to try to buy Botox maker Allergan, in an unorthodox alliance between an activist investor and corporate acquirer.

Port's Tower Vote Up in Air
A plan by the Port Authority of New York and New Jersey to provide financial backing for a third World Trade Center office tower appeared troubled Monday as concerns mounted from members of the agency's board of commissioners.

Reservoir Plan Causes Waves
New water-storage tanks planned to replace three open-air reservoirs Paterson and Woodland Park, N.J., would boost water rates and mar the area that includes the Great Falls historic district.

Parental Opposition Fells Education Firm
A nonprofit educational-software company, inBloom, that manages and stores data about public-school students said it was shutting down over concerns about student privacy.

Bloomberg Backs a Solar Lamp
A trendy solar-powered lamp will soon brighten more homes and classrooms in Africa, thanks to a low-interest loan from the foundation of former New York City Mayor Michael Bloomberg.

Theater Review: Wounded Warriors
Fighting to overcome the handicaps dealt by life in "The Cripple of Inishmaan," starring Daniel Radcliffe, and "Violet," starring Sutton Foster. Also reviewed: "The Velocity of Autumn."

Colombia Seeks New Path on Drug War
Colombian President Juan Manuel Santos said the war against drugs has failed, and the world must come up with new approaches to deal with a scourge that has killed thousands of Colombians.

Officials Urge Area Use of Sandy Aid
New York and New Jersey officials on Monday vowed to fight any move to divert federal disaster money to other states until all the needs from superstorm Sandy are met.

U.S. Attorney Forms Chicago Crime Unit
Following one of the most violent weekends of the year so far, the U.S. attorney's office in Chicago said it was forming a violent-crimes section that focuses specifically on gangs, guns and drugs.

Shanghai's Police to Take Up Arms
New on the streets of a Chinese city that often pilots reforms: police officers armed with guns. Several Chinese cities plan to replicate the program in response to growing fears of violence from crime and terrorism.

Building a Better Scrap Trap
The ORCA is a machine that takes only 24 hours to transform food waste into water that travels harmlessly down the drain, the same way tap water does. Ralph Gardner Jr. checks it out.

A Yankee Reliever Pitches to His Own Tune
No, really. Shawn Kelley commissioned a country-music singer to write a personalized song that plays over the Yankee Stadium PA system every time he enters a game.

The Movie Experience in a Broadway Theater
When eight actors sing Tupac Shakur's "Dear Mama" in the coming Broadway musical "Holler If Ya Hear Me," they will be mere feet away from some audience members.

Mulally Set Ford on a Stronger Course
Alan Mulally arrived at Ford with no auto-industry experience. Now, as the CEO prepares for retirement, Ford is making more money than ever, its cars and trucks sell well and Mr. Mulally's management style is widely studied.

Singer's Visit Aids 'Beautiful' Sales
Ticket sales for "Beautiful: The Carole King Musical" topped $1 million for the first time since the Broadway production opened, boosted by a much-publicized visit by Ms. King herself earlier this month.

Taking Another Crack at Short Stories
In Elizabeth McCracken's first collection of short stories in 20 years, "Thunderstruck & Other Stories," her characters are frequently on the move, whether they are relocating, escaping or vanishing from sight.

Spy Agencies Told to Plug Media Leaks
The top U.S. intelligence official is looking to crack down on media leaks, just as officials have vowed greater openness after a wave of disclosures about government surveillance.

Airbnb Faces Its Most Public Test So Far
Executives from Airbnb are set to appear in New York's Supreme Court on Tuesday in the most public test so far of whether the home-rental site used by millions of people operates within the bounds of the law.

Providing Medical Care in Retail Space
People with relatively minor health problems—say, the flu or a deep cut—aren't the only ones getting relief from growing walk-in urgent-care companies such as CityMD and PM Pediatrics.

Shut Out by Banks, Pot Sellers Find Help Elsewhere
With most banking options closed to them, legal sellers of marijuana have turned to others to ensure safe transfer of pot and cash. Blue Line Protection Group was founded to fill that void.

Fewer Phone Subsidies May Hurt Apple
U.S. wireless carriers are making unexpectedly fast progress moving their customers away from subsidized phones, a shift that could put further pressure on sales of expensive devices like the iPhone.

Ford's COO Preps for Top Job
Ford COO Mark Fields is about to become the leader of the nation's second-largest car maker, but the boss-to-be is a natural manager known for keeping what's important front and center.

U.S., Yemen Press Offensive on Al Qaeda
A major U.S.-backed offensive in cooperation with Yemeni forces killed up to 65 al Qaeda militants in three days of airstrikes across southern Yemen targeting a training camp and senior operatives, officials from both countries said.

Brazil Presidential Hopeful Adopts Pro-Market Proposals
Presidential hopeful Eduardo Campos, a former governor of Pernambuco state in northeastern Brazil, said he is leaning toward supporting a formally independent central bank to help bolster confidence in Latin America's largest economy.

Netflix Previews a Price Increase
Netflix said it plans to increase its U.S. prices for new members by a dollar or two. The company also came out in opposition to Comcast's proposed acquisition of Time Warner Cable.

American Wins in Boston Race Marked by Heightened Security, Emotion
One year after two bombs exploded near the Boston Marathon finish line, the city reclaimed the joy of its marquee event, coming out in near record numbers and basking in the glory of the first American men's winner in 31 years.

Eleven Charged in Drug Ring on Philadelphia's Main Line
Prosecutors said Monday they had broken up a marijuana and cocaine trafficking ring allegedly run by two graduates of a suburban Philadelphia prep school and centered on the affluent area known as the Main Line.

Court to Review Law on Election Lying
The Supreme Court will consider a free-speech challenge to an Ohio false-statements law that if allowed would advance a broader push against state laws making it illegal to lie about a political candidate.

Ford's Mulally Speeds Up Departure
Ford CEO Alan Mulally will leave the auto maker earlier than expected after a more than seven-year run that has seen the company build on its recent successes in North America and China.
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To Have and Have Not
An 80% tax rate on incomes above $500,000 is not meant to bring in money for education or benefits, but 'to put an end to such incomes.' Daniel Shuchman reviews "Capital in the Twenty-First Century" by Thomas Piketty.

Older Runners Get Inspiration From Boston Marathon Win
By winning the Boston Marathon Monday just days shy of his 39th birthday, Meb Keflezighi delivered a sense of vindication to aging athletes across America.

Peru Efforts to End Illegal Mining Has Some Success
The government began to legalize tens of thousands of fly-by-night gold miners, officials said on Monday, in an effort to reign in an industry that is despoiling the environment of one of South America's biggest mining countries and costing it millions of dollars in lost fees.

Time Warner CEO Compensation Up 26%
Time Warner Inc.'s Chief Executive Jeff Bewkes's compensation rose 26% to $32.5 million, the company disclosed in a securities filing Monday. The increase was primarily due to higher stock and option awards, which totaled $15.9 million.

A Top Hospital Opens Up to Chinese Herbs
The Cleveland Clinic is a surprising venue for the dispensing of herbs, a practice that has yet to make inroads in the U.S. because of a lack of evidence they are effective.

What It Was Like to Run in Boston
For every marathoner, "Boston" makes the heart jump the way the word "Everest" does for mountaineers or "Augusta National" does for golfers. Matthew Futterman on his Boston Marathon experience.

Zions Posts Lower Profit
Zions Bancorp. said its first-quarter earnings fell 8.6% as the regional lender continued to slash its exposure to complex investments that hindered the firm's stress-test result with the Federal Reserve.

Taking a Midrange Jump Shot Is Stupid. Or Is It?
The midrange jumper is widely considered the worst shot in basketball. But it is also what makes the NBA playoff series between the Houston Rockets and Portland Trail Blazers a fascinating contrast.

Ford to Shift Leadership
Chief Executive Officer Alan Mulally, who helped rescue Ford and turn into a global powerhouse, will retire before the end of the year and be replaced by Mark Fields. Mr. Fields has been chief operating officer since December 2012.

He Makes the Snow and Flies a Kite in It, Too
As a child, Austin Irby loved to ski and loved to fly kites. So it makes sense the snow-making manager at the Jackson Hole Mountain Resort would gravitate toward kite skiing.

U.S. Banks Still Not High on Pot
Two months after the U.S. government tried to smooth the way for sellers of legalized marijuana to get banking services, many pot entrepreneurs can't open a checking account.

Citigroup's Annual Meeting Won't Be Webcast
Citigroup, unlike most of its big rivals, chooses not to webcast its annual shareholder meeting. This year's St. Louis meeting will be the first chance investors will have to ask CEO Michael Corbat about the bank's rocky start to 2014.

U.S. Aims to Defuse Tension Over Control of Internet
The U.S. has agreed to give up supervision of the Internet policy-making body that controls domain names. This week, Washington will find out if its actions have eased global tensions over its cyberspying activities.

Saudi Arabia Fires Health Minister
Saudi Arabia fired its health minister as a deadly viral disease rooted in the kingdom claimed an increasing number of victims and criticism of the government's response mounted.

U.S. Plans to Sell Mexico 18 Black Hawks to Tackle Drug Trade
The U.S. announced plans Monday to sell Mexico as many as 18 Black Hawk helicopters in a $680 million deal aimed at bolstering efforts to combat drug trafficking.

Tuesday Morning, Ex-CEO Settle Lawsuit Over Firing
The home-furnishings closeout retailer and its former chief settled a discrimination lawsuit that alleged she was fired after developing breast cancer.

Medtronic Can Sell Heart Valve After Appeals Court Delays Ban
A federal appeals court delayed enforcement of an injunction that would have barred Medtronic from selling its new CoreValve heart device in the U.S.

Dollar Trades to Highest Level in Two Weeks Against Yen
The dollar hit its highest level in two weeks against the yen after a larger-than-expected jump in Japan's trade deficit led investors to sell the currency.

Photos of the Day: April 21
In photos picked Monday by Wall Street Journal editors, an avalanche victim's daughter collapses, supporters climb tent poles to get a glimpse of an Indian politician and a giant Easter omelet is prepared in France.

Newmont, Barrick Bonds Rally on Merger Talks
Bonds of Newmont Mining and Barrick Gold rallied amid reports the companies have recently explored a merger, which could help shore up their finances while gold prices are down.

Turkey Bolsters Building Project Financing
Turkey will provide Treasury guarantees to private borrowers for the first time as it seeks to support construction companies that face financing difficulties.

Delay in Emergency Response to Fatal Queens Fire
There was a delay in dispatching ambulances a Far Rockaway fire that killed two 4-year-olds, and the Fire Department of New York is investigating the cause, Commissioner Salvatore Cassano said Monday.

Oil Grinds Out Gain in Thin Holiday Trading
Oil futures eked out a gain as data bolstered hopes for more robust improvement in the U.S. economy and as geopolitical tensions over Ukraine remained in check for the moment.

Current Account : Psst. Wanna buy a one-trick pony ? Last week, investors got the chance to do just that, with the initial public offering of investment bank Moelis & Co. In different times, markets would have focused on the many challenges faced by Moelis and other boutiques, writes Francesco Guerrera.

Former Citi Executive Das to Join First Data
The former head of Citigroup's mortgage unit has joined First Data, the credit card processor owned by KKR & Co., according to an internal memo reviewed by The Wall Street Journal.

Service for Direct-Sale Cars Isn't That Hard
Tesla lists their service centers on their website, in which they claim that nine of 10 people live within 100 miles of one of their warranty service sites.

Really, Whose Money Is It Anyway?
Please don't tell me as part of the 50% of tax filers who still pay income taxes that if I get to keep an extra dollar of earnings that I am a drain on Washington's eternally empty purse.

High Court Won't Hear AMR Dispute
The Supreme Court won't hear dispute from the AMR bankruptcy over whether the former American Airlines parent owes bondholders a penalty fee in connection with the prepayment of more than $1.3 billion in debt

Banks Continue Fight Over 'Customer Status' on Lehman Claims
A group of investors is appealing a federal judge's decision that certain repurchase agreements don't qualify for "customer status" in a failed brokerage business, as the banks' fight with Lehman Brothers Inc. over their claims continues.

Suit Challenges FAA's U.S. Drone Policy
A Texas group sued the Federal Aviation Administration in federal court to challenge the agency's order to stop using drones in the group's searches for missing people.

There Is a Reason Why Companies Have Invested in HR
Without an HR department the void will be filled in the short term by inexperienced managers trying to make day-to-day decisions on complex matters without knowing the alphabet soup of agencies, laws and regulations or the full impact of each decision on the workforce.

A Toast to Optimism, Even if Good Policy Is Unlikely
George Osborne demonstrates that robust work and capital formation incentives are the best way to grow an economy, and includes the U.S. as a country with a bright economic future.

AT&T Expands High-Speed Internet Rollout
AT&T expanded its planned rollout of high-speed Internet service to as many as 100 cities and towns, amid tougher competition as rivals in the cable industry bulk up.

Sherpas, Officials Discuss Canceling Climbing on Everest
Senior Sherpa mountaineers and government and tour-company officials discussed whether climbing on Mount Everest during the rest of this year's expedition season should be canceled after an avalanche killed 16 guides.

Tesla's Delays Upset Some China Buyers
A group of disgruntled Tesla customers in China is protesting delayed deliveries of their cars one day before the electric-vehicle maker is set to make its first China delivery.

Goldcorp Drops Pursuit of Osisko Mining
Goldcorp said it won't boost its offer for Osisko Mining, paving the way for rivals Yamana Gold and Agnico-Eagle Mines to close their friendly takeover of the Quebec-based miner

Supreme Court Explores Middle Ground in Argentine Records Case
The U.S. High Court took up a case connected to Argentina's historic default in 2001, voicing resistance to the country's request to block holdout creditor NML Capital from obtaining bank records about Argentina's international assets.

A Cinematic Hat Tip to Everything New York
When the Tribeca Film Festival opens its 13th edition on Wednesday, it will embrace a New York state of mind. For organizers, this year's nod to the Big Apple underscores an underlying reason for the festival.

UAW Drops Appeal on Volkswagen Vote
The United Auto Workers union withdrew an appeal before the National Labor Relations Board of a Volkswagen assembly plant vote in Tennessee, allowing the February rejection of union representation to stand.

Nokia to Close Sale of Handset Business
Nokia and Microsoft expect to formally conclude the transfer of Nokia's phone business Friday, putting an end to months of wrangling with regulators across the globe..

Mt. Gox Buyout Plan Has Creditor Support, Investor Says
Creditors who owned more than 70% of the bitcoins lost by Mt. Gox have agreed to support efforts by a group of U.S. investors to acquire the collapsed bitcoin exchange, according to one of those investors.

E.S. Browning : Investors breathed a sigh of relief last week as major stock indexes recovered almost all their recent losses. Many money managers warned clients, however, that the risk of a sharp pullback has been delayed, not eliminated.

Portuguese Economy Improves but Challenges Remain--IMF
Portugal's economic outlook has sharply improved, but the country faces challenges to make growth sustainable, the International Monetary Fund says.

Julia Roberts on Her Family and Fame
The Academy Award winning actress, thankful for the life she shares out of the spotlight with her family, brings her star power to the small screen in HBO's film adaptation of "The Normal Heart."

Knicks Fire Mike Woodson
The Knicks fired coach Mike Woodson on Monday, less than a week after a disappointing season in which they failed to make the playoffs despite playing in a historically weak Eastern Conference.

Biden Visits Ukraine as U.S. Weighs New Russia Sanctions
Vice President Joe Biden is in Ukraine for two days of talks as the U.S. prepares to address Ukraine's energy needs and weighs new sanctions against Russia.

Sarepta Drug Could Get FDA OK Sooner Than Seen
Sarepta Therapeutics and the FDA worked out a research plan that could lead to the approval of the company's treatment for a rare and fatal genetic disease sooner than expected.

India Court Lifts Iron-Ore Mining Ban in State of Goa
India's Supreme Court Monday ended an 18-month ban on the mining of iron ore in the western state of Goa, after it had been stopped on environmental concerns.

Russia Could See Second-Quarter Recession
Russia's economy may slide into recession in the second quarter of this year but the finance ministry isn't planning to increase budget spending, said the head of the finance ministry's long-term planning department.

Halliburton Swings to Profit
Halliburton reported a first-quarter profit after the year-ago quarter was weighed down by a charge related to litigation stemming from the 2010 Deepwater Horizon disaster.

Nu Skin to Resume Some Operations in China
Nu Skin Enterprises said its Chinese business will immediately resume corporate-hosted business meetings and will start accepting applications for new sales people next month.

The 10-Point: Gerard Baker on Resilient Economic Expansion, U.S.-Russia Relations, Alleged Wage Collusion and More
A personal, guided tour to the best scoops and stories every day in The Wall Street Journal, from Editor in Chief Gerard Baker.

Toll-Road Operator to Draw Interest
Four groups of global investors are expected to bid billions of dollars for Australian state-owned toll-road operator Queensland Motorways, highlighting the appeal of infrastructure assets.

Flight 370 Families Critical of Malaysia
Relatives of passengers on Malaysia Airlines Flight 370 assailed the Malaysian government over its investigation, as a seabed search continued to yield no trace of the missing jet.
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Asian Shares Mixed
Japan's Nikkei index gave up early gains to end flat amid investor anxiety over upcoming earnings reports and rising regional tensions, while the Philippines' benchmark rose to a nine-month high.

Air India to Sell Rest of 777-200 Fleet
Air India has offered to sell its three remaining Boeing Co. 777-200 longer-range jetliners, and sought a bridge loan of as much as $500 million to take delivery of four 787-800 Dreamliner jets.

Pack What You Need, Then Take Half
Aric Chen, the design and architecture curator at the new M+ museum of visual culture, talks about the trans-Siberian railroad, Vietnamese coffee and which buildings around the world have left the greatest impression on him.

Transcripts From Sinking Ferry Show Confusion
Divers pulled bodies from the sunken South Korean ferryboat Sunday, as authorities widened their inquiry and released transcripts capturing the confusion as the ship capsized five days ago.